There’s a saying by Meister Eckhart that goes: “And suddenly you just know it’s time to start something new and trust the magic of new beginnings”. And it fits New Years like a glove because twelve months are enough to tire any human being and make you wanna give up. Then comes the miracle of new beginnings and renewed hope.
Sayings aside, we believe the end of the year and the coming of a new one spark in people the wish to change. In many cases, it’s the ideal time to put the past 365 days into perspective and set new goals, professional or personal ones.
Whether you want to change careers or become an entrepreneur, planning beforehand is the key to the success of your new journey. With this in mind, we’ve written a post with tips on how to become an entrepreneur in 2018 and succeed in any niche, besides giving you suggestions of markets you can exploit.
Take this opportunity to clear all your questions about the topic!
Is it still worth starting your own business?
First of all, let’s answer the question in everybody’s mind: with the world economy varying a lot, full of uncertainties, is it still worth starting your own business?
Most of the answer can be found o the 4th edition of the Global Entrepreneur Report by BNP Paribas, based on the opinion of 2.700 successful entrepreneurs from 22 countries that concentrate 36 billion dollars. It shows the commitment of Elite Entrepreneurs to generate a positive impact with their business.
80% of them believe that having a business venture is the best way to cause global or local impact, and the most popular agendas are the environment, clean energy, and job creation.
The entrepreneurs who took part in the research anticipate an increase in their use of investment funds (34%), start-up financing (34%), private equity (32%), equity funding (32%) and impact investing (29%).
“Their investments can amplify their ambitions to create a better environment for the next generation while reflecting their values. The ‘millennipreneurs’ hold great wealth potential and will lead the way: impressively, 64% of them are already actively engaged in impact investing, particularly in terms of job creation.”, states Vincent Lecomte, Co-CEO at BNP Paribas Wealth.
Is there any new niche market to exploit?
Entrepreneuring is not a synonym for creating something never before seen in the market. But rather identifying problems and opportunities to implement a solution that adds value to people’s lives.
Take Netflix, Hulu and other streaming services, for example. They make movies and shows available on demand. Before they came into existence, people rented movies, subscribed to cable or downloaded illegal content on the web.
The idea of becoming a video service isn’t new, if you stop to think about it. But when Netflix makes available a list of films to watch whenever you want for a fixed monthly fee, they’ve significantly decreased the trouble consumers would go to watch this content.
If you have this in mind, you’ll agree it’s completely possible to become a success reference even in a saturated niche.
Options of niche market to exploit
20 years ago or so, brick-and-mortar businesses were the only option for entrepreneurs. As the Internet evolved, it brought new possibilities of niche market for people who want to work online and make a living off their talents and skills.
Besides its higher range, the online market has the advantage of being less bureaucratic, which means you can work in it without establishing a legal company, at least at first.
A Producer is the professional who turns their knowledge into digital products to sell online. To become one, you need to have great expertise on a topic to be able to explain it well.
- Autonomy to create your content;
- Easier to distribute;
- Possibility of scalable profits;
- Variety of formats;
- Low investment.
How to become a Producer
The first step to create a product is to list the topics you know well and can really teach.
With this list in hands, search on tools such as Google Trends if there’s an audience interested in such topics. After all, the more people research the topic, the higher the chances of you selling your product when it’s ready.
We also suggest you perform a keyword search on tools such as Google Keyword Planner, in order to identify the ones performing better on search engines. This search will help you get to know your competition better and the pains of people who search for this kind of product.